Hubbell Q4 Profit Rises, Utilities Drive Growth

Hubbell Inc. reported a fourth-quarter profit increase, driven by robust demand in its utilities segment, achieving adjusted earnings of $4.10 per share, surpassing analysts' expectations of $4.02 per share. The company's net income rose to $197 million, up from $171 million the previous year, despite a revenue decline of 1% year-on-year to $1.33 billion, which missed the estimated $1.41 billion. Hubbell's operating margin improved to 19.3%, up from 16.8% last year, reflecting effective operational execution. However, organic revenue saw a year-on-year decrease of 3%. Looking ahead to 2025, Hubbell projects sales growth of 4-5% and adjusted earnings per share between $17.35 and $17.85, slightly missing some analyst projections. Despite its earnings success, Hubbell's stock performance has lagged behind the broader market this year.